The Asia Pacific industrial tubes market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Market for Asia Pacific industrial tubes projected to reach US$ XX Mn by 2025 due to rising demand for industrial tubes from construction industry and rapid urbanization.

Development and Launch of New Industrial Tubes

Development and launch of innovative industrial tubes by the market players enables surge
in the industrial tubes market demand over the forecast years. For instance. In 2018, Tata Steel launched two products namely Tata Aggreto and Tata Nirman which has a wide applications in road, fly ash brick and clinker making. Moreover, Launch of newer products in various countries enables the growth of industrial tubes market over the forecast years.

Steel Tubes Segment Expected to Dominate the Market

Based on material the Asia Pacific industrial tubes market is segmented into steel and non-steel. Steel is expected to dominate the market due to its advantages such as strength, durability, excellent chemical and corrosion resistance, and many other properties. It is widely used in the manufacturing of industrial tubes which has a wide application in the oil & gas and petrochemical, energy & power, automotive, and many other industries. The steel segment is expected to account for the highest growth rate during the forecast period due to the rapidly growing end-use industries in emerging countries such as China and India.

Asia Pacific industrial tubes market report analyses the market in different countries of Asia Pacific. China and India accounted for major revenue share due to increased consumption of the chemical products. China and India has the highest populations among Asia Pacific. There is increased expansion of capacity in the petrochemical and chemical industry among the countries such as China and India due to increased consumption of the chemical products. North America growth is followed by Asia Pacific due to the economic growth.

Asia Pacific industrial tubes market is consolidating as large players complementing each other’s businesses by means of collaborations, agreements and acquisitions. For instance, in November 2017, Vallourec S.A. received a contract to supply 16,000 tons of OCTG tubular solution to China National Offshore Oil Corporation (CNOOC), in Shenzhen, Shanghai, Tianjin, and Zhanjiang in China.

The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

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